Loan sharks warning from the Wales Illegal Money Lending Unit
The Wales Illegal Money Lending Unit (WIMLU) is warning residents who may be finding it difficult to make ends meet not to make the mistake of turning to loan sharks, who are even worse than doorstep or payday lenders.
Written by Marcus
—21 Jan, 2016
The Wales Illegal Money Lending Unit (WIMLU) is warning residents who may be finding it difficult to make ends meet not to make the mistake of turning to loan sharks, who are even worse than doorstep or payday lenders. These illegal lenders operate without a consumer credit licence, and prey on people who are vulnerable – whether because of poverty or debt, or difficulties in their lives such as addiction or health problems.
WIMLU urges residents to make sure that anyone offering to lend money has a consumer credit licence. If you are a loan shark victim, or think there may be a shark operating nearby, phone WIMLU on the 24 hour Hotline: 0300 123 3311. You can phone anonymously if you want. You can also email our Money Advice Team or give them a call on 01495 745910.
Visit Cardiff Council website for more information and advice from the Wales Illegal Money Lending Unit .